CBS’ board denies former chairman Les Moonves his $120 million severance pay. “We have determined that there are grounds to terminate for cause, including his willful and material misfeasance, violation of Company policies and breach of his employment contract, as well as his willful failure to cooperate fully with the Company’s investigation,” CBS’ board said in a statement Monday. “Mr. Moonves will not receive any severance payment from the Company.”

Oracle beats. Oracle reported adjusted earnings of $0.80 a share on revenue of $9.56 billion, edging out the $0.78 and $9.52 billion that analysts surveyed by Bloomberg were expecting.